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Featured Article February 9, 2010:   Exceptional Risk-Reward Scenario   Long-term debt free, unhedged, gold exploration/development mining company now pouring gold and ramping up to full 1200TPD production in 2010 with high grade ore source set to come online     Metanor Resources Inc. (MTO.V) (MEAOF.PK) (M3R.F) Stable, mining friendly region Exceptional technical leadership Cash-flowing well pouring gold at 100% owned mill Sprott Asset Management and Goodman & Co. have taken equity positions; Metanor Resources is now owned by two of the largest and most prestigious investment institutions in Canada. Metanor is well capitalized and proceeding on schedule with upgrade plans to progress underground and bring the mill up to 1200TPD. MTO.V will process the high grade ore from the Bachelor underground mine at conservatively ~7g/t and blend with the 3+g/t ore from the Barry open pit deposit. Metanor's VP & Treasurer Ronald Perry said "we are being conservative in saying an average of 5-6 g/t at 1200TPD 94% recovery will get us close to 70,000 ounces gold per annum, with an anticipated blended direct cash cost of ~US$458." "Consider where Metanor will be by the latter part of 2010; a very profitable producer at 1200TPD production with high grade Bachelor Lake ore -- it is obvious the stock of MTO.V is poised for significant upside revaluation" Source: Market Equities Research Group

Q1 2010 Laurentian Bank Securities Analyst Opinion on MTO [PDF] Notes from the Editor on Featured Article:   Undervalued Opinion: With well over 30,000 ounces of gold poured to date, and with ~1,000,000+ oz of Gold (NI-43-101 measured and indicated) available from four of their properties, Metanor Resources has restarted their gold milling facility and is pouring gold from their 100% owned Barry deposit. Metanor Resources gold milling facility is readily capable of producing a projected 70K oz gold per annum, has a replacement value of ~$150M and sits geographically as the only mill located within 200 km in a gold rich district that possesses additional resources exceeding 1.5M oz. Metanor is also amassing properties within this area, near their Bachelor Lake Gold Mine & Mill, and will play a central role mining the resources in this region for decades. With 122,405,005 shares outstanding and currently trading under CDN$0.80/share, the present valuation appears to present exceptional opportunity. The time to pay attention is now as Metanor Resources is pouring gold and growing. Metanor at its 100% owned 1,200 (upgradeable capacity) TPD mill in Desmaraisville (Val d'Or) is expected to increase its annual production rate to 60,000oz gold. The mill is configured to produce dore bars of gold, with a small component of silver.   Recent encouraging drill results from the Barry property has shown that the pit is expanding and the zones are connecting to each other, which is confirming the potential of significant resources. Recent drilling results include 13.31 g/t Au over 5.2m (See Oct. 20, 2009) 9.24 g/t Au over 33m (See Sept. 24, 2009). Previous drilling results included 7.71 g/t Au over 7.75m (See Sept. 3, 2009 release) and 10.4 g/t Au over 7.65m (See June 11, 2009 release) among others. The pieces are falling into place for the Barry Deposit to have a significantly extended life and new higher grade ore from Barry will soon be able to be brought into production. Video of Metanor in Operation <= Click to Watch Video footage from ground to furnace  Running Time 3 min. 02 sec.

Metanor Resources Inc.

TSXV-MTO
  

Metanor Resources Inc. is an advanced stage development and exploration mining company listed on the TSX Venture Exchange (ticker symbol MTO.V) (US Listing: MEAOF) (Frankfurt: M3R). Metanor has come to our attention due, in part, to the extraordinary opportunity afforded investors as a new gold producer in the making utilizing their 100% owned Bachelor Lake Gold Mill in the prolific Abitibi Mining District of Quebec.

Metanor now has the Bachelor Lake Gold Mill functioning and processing the ore extract from the open pit operation on their Barry gold deposit (located approximately 65 km southeast of the mill). Primary crushing is done on-site, with secondary crushing and refining at the Bachelor Lake facility. The Barry property boasts a highly efficient ore-to-waste ratio of only 1:1.

Initial cash flow from production will be used to expand the resource base at the Barry Deposit and further develop the enormous potential at the Bachelor Lake Gold Mine which produced over 131,000 oz of gold during the 1980's, it currently has resources of 300,000 oz Au and is open in all directions at depth with plans to upgrade to 1,000,000 oz.

According to Metanor's President, Ghislain Morin, current depth of the shaft at the Bachelor Lake Gold Mine is 1,700 feet, the shaft will be sunk an additional 600 feet to a depth of 2,300 feet and a 20,000 meter drill program is expected to add an additional 700,000 ounces of resources. Mr. Morin has many years of mining experience with an expertise in both underground development and shaft sinking. Prior to joining Metanor Resources, Mr. Morin built mills for several area miners including Cambior (now owned by Breakwater), Aur Resources and BHP Billiton. The two main veins at the Bachelor Lake Gold Mine run parallel and are 75 feet apart at an 80 degree angle. Metanor expects to drop shaft an additional 700 feet in the near future and the potential is in place to identify 1.5 million ounces going forward. Area miners such as Aur Resources (now Teck Cominco), Agnico-Eagle and Sigma are currently mining at depths of between 5,000 and 8,000 feet. The gold grade at the Bachelor Lake property increases at depth and the strike is open in all directions at the 2,300 foot mark.

In 2005, Metanor completed a 15,000 meter drilling campaign from the last underground level of the Bachelor Lake mine and also drilled from the surface between 2005 and 2009. The drilling campaign produced very good drill results which demonstrated the development of new gold zones and higher grade ore at depth. Examples of high grade ore at Bachelor Lake are as follows: 27.49 g/t over 2.78m (Press Release-May 26,2005), 22.19 g/t over 3.77m and 18.81 g/t over 4.70m (Press Release-June 8, 2005), 17.77 g/t over 3.25m and 27.43 g/t over 1.25m  (Press Release-July 13,2005) 26.50 g/t over 2.75m and 25.12 g/t over 1.95m (Press Release-August 17, 2005) and 17.76 g/t over 3.66m, 13.08 g/t over 7.62m, 9.46 g/t over 25.7m and 9.59 g/t over 13.72m (Press Release-December 8, 2005).

Metanor will also acquire advanced projects near the Bachelor Lake Mine and capitalize on their good fortune of being the sole mill within a 100 km radius in an area that contains in excess of 1.5M oz of gold from various entities. MTO has an additional 100,000 oz (historic non NI43-101 compliant) gold on their Hewfran extension and recently acquired gold properties (63 adjacent claims) contiguous to Bachelor Lake which hosts the once producing (until 1967) Coniagas Mine. Metanor's Hewfran property, adjacent to the Bachelor mill property, is also the subject of new resource expansion; See Feb 12, 2009 release "NEW DISCOVERY CONFIRMED" -- The results indicate that the mineralized Hewfran West zone, directly adjacent to Metanor's 100% owned Bachelor Lake Gold Mill and Mine, is continuous from surface to 180m elevation below surface where resources were evaluated in 2005. Hewfran and the Bachelor Lake Mine are connected underground. Bachelor Lake Mine’s 6th and 8th gallery are part of Hewfran and these new results indicate economic grade potential for mining via surface open pit or decline type mine on the extension.

The Bachelor mill is currently operating at a capacity of over 800 tons per day (tpd) and has poured more than 30,000 oz. of gold to date. An ongoing efficiency improvement plan is in place to raise the production to 1200tpd in 2010. Metanor has commenced work to go underground at Bachelor Lake towards the development of the Hewfran section via level 6 and 8 where there are proven reserves. The shaft rehabilitation has been completed.

Dubuisson and Nelligan Properties: Metanor also has several other properties of significance including their Dubuisson property which precipitated MTO becoming a publicly traded entity in 2003. The Dubuisson property lies within the city limits of Val-d'Or, Quebec, where 9,000 m of exploratory drilling has confirmed a measured, indicated, and inferred resource of over 450,000 ounces of NI 43-101 compliant gold. The Nelligan property, which consists of 58 claims totaling approximately 2895 ha located immediately to the west of the Bachelor property and approximately 8 kilometers southwest of the Town of Desmaraisville is turning up significant results that investors need to keep an eye on as new gold bearing zones of significance are being discovered; See September 16, 2009 release "New Discovery". Nelligan is in close proximity to the Bachelor Lake Mill. Sheared and mineralized horizons at Nelligan similar to the Vein A at the Bachelor Mine were exposed on the Billy group and the Valley group of Nelligan property. On the Billy group, assay values of 582 g/t Au over 0.53m and 3.15 g/t Au over 3.0m were obtained from channel sampling. On the Valley group, the best assay result was obtained from a grab sample of altered mafic volcanic with minor pyrite stringers and quartz veining and returning 3.25 g/t Au. Values obtained in channel samples demonstrate continuity of gold mineralization across the shear zone with grades of 2.02 g/t Au over 2.10m and 1.47 g/t Au over 2.25m. The Dubuisson and Nelligan properties alone are a significant plum, however it is important to note that Metanor's flagship and main focus is their 100% owned Bachelor Lake Property; the exceptional revenue generation from the mill and vast resource base of the gold mine.

• Mr. Serge Roy, Chairman CEO, is a licensed professional who has held key positions for such companies as Stabell Resources Inc. and Ovaltex Consultant inc. (mining consultants and geological engineers), has made has made key strategic decisions that have maneuvered Metanor to a position of great strength in the region and is well qualified to maximize shareholder value as Metanor transitions from explorer to gold produce. 

• Mr. Ghislain Morin is President & COO. Mr. Morin participated in many feasibility studies with a view to implementation of mines, mining projects and mining product installation companies. Between 1981 and 1989, he founded Équipement Minier GRM Inc. for which he is now vice president. Mr. Morin has been involved in planning, management, monitoring, construction and evaluation of various mining projects since 1974.

• Andre Tremblay, V.P. of Exploration, holds a bachelor's degree in geological engineering and a masters' degree in earth sciences (structure) from the Universite du Quebec in Chicoutimi . He's acted as a director of exploration and/or various senior geologist positions with companies (as Ressources minieres Coleraine, GeoNova Explorations, Gestion S.R.C. Inc., Groupe Minier O, Mines Camchib, Campbell Resources Inc.).

E-mail: info@metanor.ca       Company's web site: www.metanor.ca